STACKS JUST RIPPED 9 PERCENT AND BITCOIN L2S ARE WAKING UP
Bitcoin is holding near 83600 after defending the 81000 zone
Almost 700 million in longs got flushed in the last day
The most interesting reaction is happening on Bitcoin layers
Stacks is the strongest large cap gainer today
It is up 9 percent near 42 cents with 14 million in spot volume
Bitcoin Sidechains is trending on CoinGecko
That tells you where speculative money is rotating while everyone waits for CPI tomorrow
Top 3 coins on my radar are $STX $SOV and $MERL
STX is leading with real volume and a clean break above recent range highs
SOV from Sovryn is up 7 percent near 2 cents
It keeps grinding higher on the Bitcoin DeFi narrative
MERL from Merlin Chain is up 2 percent near 3 cents
It is lagging which makes it the catch up candidate if STX holds its breakout
Trade signal on STX
Entries between 40 and 42 cents look solid with momentum behind the move
Targets at 50 cents then 58 cents
Stop under 36 cents if the breakout fails
Size this as a momentum trade and not as a long term hold
My take as an analyst
Bitcoin L2 is the cleanest high beta Bitcoin play right now
If BTC reclaims 84500 this sector moves first and it moves fast
I am watching STX for continuation
I would rather buy strength here than chase dead bounces in weaker sectors
Are you positioned in Bitcoin L2s or are you waiting for CPI to decide?
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #BitcoinL2
Bitcoin is holding near 83600 after defending the 81000 zone
Almost 700 million in longs got flushed in the last day
The most interesting reaction is happening on Bitcoin layers
Stacks is the strongest large cap gainer today
It is up 9 percent near 42 cents with 14 million in spot volume
Bitcoin Sidechains is trending on CoinGecko
That tells you where speculative money is rotating while everyone waits for CPI tomorrow
Top 3 coins on my radar are $STX $SOV and $MERL
STX is leading with real volume and a clean break above recent range highs
SOV from Sovryn is up 7 percent near 2 cents
It keeps grinding higher on the Bitcoin DeFi narrative
MERL from Merlin Chain is up 2 percent near 3 cents
It is lagging which makes it the catch up candidate if STX holds its breakout
Trade signal on STX
Entries between 40 and 42 cents look solid with momentum behind the move
Targets at 50 cents then 58 cents
Stop under 36 cents if the breakout fails
Size this as a momentum trade and not as a long term hold
My take as an analyst
Bitcoin L2 is the cleanest high beta Bitcoin play right now
If BTC reclaims 84500 this sector moves first and it moves fast
I am watching STX for continuation
I would rather buy strength here than chase dead bounces in weaker sectors
Are you positioned in Bitcoin L2s or are you waiting for CPI to decide?
#BinanceSquare #WriteToEarn #Crypto #Bitcoin #BitcoinL2